Chart of the Day – Cree, Inc. (CREE)

by John Lansing | November 16, 2010 9:45 am

Today’s chart of the day is Cree, Inc. (NASDAQ: CREE[1]).

The stock broke out of a bullish continuation wedge two weeks ago, and has been consolidating since then. Once the consolidation is complete, we should see a $15-$18 move higher by the end of December or early January.